Candidate

Protections for Rare and Endangered Animals Under Threat from Permian Basin Drilling Industry

Midland, Texas — Monarch butterflies, tiny lizards, and a type of grouse known as the lesser prairie chicken all drew close scrutiny from a large gathering of oil and gas executives at the Permian Basin Petroleum Association's annual meeting this year.

Fracking has helped turn the Permian Basin into the nation's most productive oil field — and the only part of the U.S. where the oil industry continues to expand robustly despite a price slump that began in mid-2014.

But the parched Permian Basin is also home to a broad array of rare wildlife, including a significant number of species already considered threatened or endangered. With the Fish and Wildlife Service considering adding dozens more species in Texas to their lists, the oil industry here is sweating (and not simply because last month was the warmest October in Midland in over 80 years of record-keeping).

Endangered species may prove to be an unexpected Achilles heel for the Permian drilling industry as it attempts to turn the deserts of west Texas into an oil “well factory” — a dense field of wellpads, pipelines and access roads built right amid unique ecosystems and habitats for wild animals that may be at risk of extinction.

Republican Presidential Candidates Already Talking About Dismantling Environmental Protections

There are currently no candidates seeking the Republican nomination for President in the United States that hit the following three points: Climate change is real, human activity is making it worse, and we need to act. To make matters worse, these reality-denying politicians are already laying out their plans on how they will scale back environmental protections if they ever make it to the White House.

How Do You Spend $375 Million A Day? Ask The Oil Industry

The average U.S. household has seen both their net worth and their average income steadily decline over the last seven years. Unemployment in the United States still remains at uncomfortably high levels, and the poverty rate is about to reach highs that haven’t been seen since the 1960’s. But as average citizens are struggling to provide food for their families and gainful employment, there are a special few in the U.S.A. who have more cash than they know what to do with. Those special few would be the oil industry.

While most of us in the U.S. were cringing every time that ticker on the gas pump climbed higher and higher, executives at the top five oil companies were squealing with delight as their profits climbed even faster and higher than the prices at the pump.

This week, oil companies are sheepishly coming forward with their 2nd quarter earnings statements, likely praying that Americans forget about the fact that gas prices were recently at near-historic highs in areas of the country. From Climate Progress:
 

The top two corporations on the Fortune 500 Global ranking, Royal Dutch Shell and ExxonMobil, announced their 2012 second-quarter earnings today, bringing the total profits for three Big Oil companies to $44 billion for 2012 or $250,000 every day this year. Exxon profited by $16 billion this quarter, bringing its earnings for 2012 to $25 billion.

The New York Times wrote that Exxon and Shell’s earnings “disappoint,” because energy prices unexpectedly dropped for consumers this summer. Put their profits in the appropriate context, however, and Exxon and Shell still made a combined $160,000 per minute last quarter, even though the top five oil companies benefit from $2.4 billion federal tax breaks every year.
 
Subscribe to Candidate